Given the new business context in which print media have been hit in recent years by changes in habits and audiences are on multiple channels and digital platforms, marketing and advertising teams must reinvent themselves.
The most recent changes in lifestyle habits resulting from the spread of covid-19 have combined with the increased use of digital platforms, a phenomenon that was already evident before the pandemic.
During 2020 it is estimated that advertising investment amounted to $345 million, an amount that is 6% lower than reported in 2019, a drop that is explained by the fall in spending in all formats.
According to data collected by Kantar Iboper Media, between 2019 and 2020 in the Costa Rican market, advertising investment decreased by $22 million, going from $367 million to $345 million.
Instituto de Recreacion de los Trabajadores bids advertising services in newspapers, national TV channels, cable channels, radios, magazines and other media.
Following the entry into force of the Sign Law, agencies engaged in providing printed advertising services estimate that the cost of billboards will increase by 30% due to the new tax payments to be made to the municipalities.
According to the Assembly, the purpose of the Law is to establish the legal framework to regulate the advertising and propaganda carried out by means of signs located in the municipalities of the country, based on urban, suburban and rural planning and development, as well as technological advances.
Because more than half of consumers born between 1996 and 2012, known as "Generation Z" or "Centennials", are immune to traditional advertising and television, brands and companies should focus on communicating with this group through digital channels, such as social networks and influencers.
Positioning a brand, product or service is currently a challenge for advertising agencies and companies, as they must overcome the challenge of communicating effectively with younger consumers.
Understanding the socio-demographic characteristics of the ideal client, as well as knowing their interests, desires, motivations and challenges, is fundamental for reaching the consumers of this new commercial normality in the digital environment.
The health crisis, quarantines and social distancing measures in the countries of the region, forced individuals and companies to accelerate the adoption of new technologies, which caused the digital to become the center of all interactions.
Reduction in advertising and marketing budgets in companies and an increase in the preference for investment in television campaigns are part of the changes that are being reported in the context of the new commercial reality.
Radical changes in the ways people relate to each other, new consumer habits and the home confinement decreed by the pandemic have led to a transformation in the advertising sector.
With the reduction of advertising budgets, companies must invest in advertising on social networks, which must be complemented by organic traffic derived from content created on digital platforms.
The outbreak of covid-19 transformed the ways in which Central American consumers behave, as quarantines and measures of restriction and social isolation decreed by governments, generated abrupt changes in purchasing habits and product search.
On January 14, the acquisition of Publicidad Interamericana by the Bcomm business group was officially announced.
In an official statement from Bcomm, the communications holding company comprising BBM MullenLowe, Voltage Productions, SkyCom and Punto Aparte Carat, it was indicated that "the incorporation of Publicidad Interamericana S.A. was successfully completed. (PISA Publicidad) to our business group."
In a context of a drop in the number of tourists arriving in the Dominican Republic, the authorities announced that they are implementing a new campaign to reposition the destination, which will be focused on the U.S. market.
As part of the new international advertising campaign, the tourism sector in Panama expects visitor arrivals to increase by 125,000 tourists per year, who could generate annual revenues of close to $100 million.
The "Panama Stopover" campaign aims to take advantage of the competitive advantages that the country has, encouraging tourists who are in transit in the country to include in their itinerary an extended stop, which could be up to seven days at no additional cost in the airfare.
The airline filed a demand arguing that the entity owes it payments for advertising services provided in 2018.
The Guatemalan Institute of Tourism (INGUAT) and the company Wamos Air, signed a cooperation agreement to promote the country as a tourist destination during 2017, which was extended to 2018.
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